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Author Question: In 2015 Grace loaned her friend Paula $12,000 to invest in various stocks. Paula signed a note to ... (Read 173 times)

Brittanyd9008

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In 2015 Grace loaned her friend Paula $12,000 to invest in various stocks. Paula signed a note to repay the principal with interest. Unfortunately the market for that industry sector plunged, and Paula incurred large losses. In 2016 Paula declared personal bankruptcy and Grace was unable to collect any of her loan. Grace had no other gains or losses last year or this year. The result is
◦ Grace deducts a business bad debt of $12,000 in 2016.
◦ Grace deducts a $12,000 nonbusiness bad debt as a short-term capital loss in 2016.
◦ Grace deducts a $3,000 nonbusiness bad debt as a short-term capital loss in 2016 and carries $9,000 over to subsequent years.
◦ Grace deducts a business bad debt of $3,000 in 2016 and carries $9,000 over to subsequent years.


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Marked as best answer by Brittanyd9008 on Sep 13, 2020

dpost18

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Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Brittanyd9008

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Reply 2 on: Sep 13, 2020
:D TYSM


lcapri7

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Reply 3 on: Yesterday
Excellent

 

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